Here in Washington, on the application for the Inspector license they ask about RE License.  

The more detail and info in your questions, the more accurate and applicable the answers can be.Hope that helps. 

We've got an approved application (getting holding deposit tomorrow) from 2 well-qualified tenants, and I'll be overjoyed to shut off Niagara Falls into my email inbox.  

what happens is they lose there vouchers mid lease.. why.. they lied on their application.. they now earn too much money.. etc etc.. so yes while the tenant is qualified you get paid but they do become unqualified at times.. so prepare for that.. and when you get one kicked off the system.. its a nightmare eviction..

When screening applicants I make it clear that regardless of the excuse I do not tolerate late payments.

Do people normally show a property before having the potential tenant fill out an application.

Therefore, it may be prudent to deliver the 30-day notice of termination as a matter of course, rather than expend resources to determine the applicability of the statute.

Cash flow would be income after rehab, if applicable, less PITI and maintenance/repair/fees.For internal return on investment, I consider principal buy down converting to equity.

I have an application, tenant selection criteria, lease, lease extension, late notice, etc ready to use.

Major, you just placed a whole new spin on your situation, you will want to discuss this with other lenders, perhaps before you get to far in your application process in general.